Sacramento transfers two small properties to Kings for tower project

The Sacramento City Council voted Tuesday night to formally transfer two small downtown parcels to the Sacramento Kings where the team is planning to build a 16-story hotel, office and condo tower.

The city will transfer the airspace above Fifth and K streets and a small plot of land on J Street near the former entrance of the city-owned parking garage beneath Downtown Plaza. City officials said in a staff report that the Kings have already paid the city for the two parcels.

Transferring the parcels will allow the tower project to move forward, city officials said.

The Kings have said they plan to break ground this spring on the tower, which will stand on J Street between Fifth and Sixth streets, adjacent to a new $477 million arena under construction.

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Architectural drawings of the tower show that a raised swimming pool would be built on a deck overlooking a public plaza at the arena. The plans also call for a new elevated green space at the rear of the hotel and revamped retail space throughout Downtown Plaza. The Kings said last month the development near the arena would cost $250 million.